CAclubindia News

RBI Ban on Paytm Payments Bank and Its Implications for FASTags

05 February 2024 at 09:24

Reserve Bank of India (RBI) has imposed restrictions on Paytm Payments Bank, prohibiting it from accepting deposits or top-ups in any customer account, including FASTags, after February 29, 2024.

Posted in Others | 1 comments | 6813 Views

Enhanced GST System Introduced with Innovative e-Invoice Portal

05 February 2024 at 09:20

The Government of India, in collaboration with States and Union Territories, has unveiled an upgraded Goods and Services Tax (GST) system, incorporating the advanced e-Invoice System.

Posted in GST | 1 comments | 5787 Views

GST Council Contemplates Pan-India Biometric Authentication Rollout for Registration, Says CBIC Chief

05 February 2024 at 09:18

In a significant move to combat fraudulent practices in GST registration, the GST Council is considering a proposal to make biometric-based Aadhaar authentication mandatory pan-India for individuals deemed suspicious, seeking GST registration

Posted in GST | 3255 Views

Budget 2024: CBDT Chairman Nitin Gupta Lauds Swift Tax Return Processing

05 February 2024 at 09:16

In a significant development, Nitin Gupta, Chairman of the Central Board of Direct Taxation (CBDT), has announced that the process of tax return filing has been streamlined, reducing the turnaround time to just 10 days. G

Posted in Union Budget | 2457 Views

Income Tax Dept Achieves Over Rs 1260 Crore TDS Collection on Online Gaming and Cryptocurrency Trade

05 February 2024 at 09:15

Government Gains INR 1,260 Crore Through Innovative TDS Framework on Online Gaming and Cryptocurrency Trade

Posted in Income Tax | 5298 Views

DGGI Unearths 1,700 Fraudulent ITC Cases Worth Rs 18,000 Crore; 98 Arrests in FY 2023-24

05 February 2024 at 09:14

DGGI detects 1,700 fraudulent ITC cases involving Rs. 18,000 crore with 98 arrests in Financial Year 2023-24 (up to December 2023)

Posted in GST | 2442 Views

Income Tax Department Notifies Higher TDS/TCS Rates for 'Inoperative' PANs

03 February 2024 at 09:23

The Income Tax Department has issued a crucial attention notice to Tax Deductors and Collectors, notifying them of the implications of PAN status marked as 'Inoperative' on TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) rates.

Posted in Income Tax | 13428 Views

CBDT Extends Time for Processing E-Filed Returns with Refund Claims in Non-Scrutiny Cases

03 February 2024 at 09:22

CBDT has issued an order dated January 31, 2024, announcing an extension in the time-limit for processing non-scrutiny Income Tax Returns up to Assessment Year (AY) 2020-21.

Posted in Income Tax | 6462 Views

MSME Udyam Portal Unveils Effortless Verification Feature for Udyam Registration

03 February 2024 at 09:21

In a move aimed at enhancing transparency and facilitating compliance, the MSME Udyam Portal has rolled out a significant update introducing a user-friendly feature that allows seamless verification of Udyam Registration numbers.

Posted in Corporate Law | 4641 Views

Maharashtra GST Dept Unveils Guidelines for SGST Reimbursement on Movie Tickets

03 February 2024 at 09:21

The Maharashtra GST Department has issued Trade Circular No. 01T of 2024 dated January 29, 2024. The circular outlines a comprehensive procedure for the submission and processing of refund applications concerning the reimbursement of the SGST component.

Posted in GST | 2691 Views